Crosshair Intersects 0.20% Vanadium Over 43 Metres

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 20, 2010) - Crosshair Exploration & Mining Corp.(TSX:CXX)(NYSE Amex:CXZ) ("Crosshair") is pleased to announce assay results from the ongoing vanadium program on the Central Mineral Belt (CMB) Project in Labrador. Vanadium has now been intersected as far as 165 meters (m) away from the existing resource envelope.

Highlights from recently assayed holes include:

0.181% V2O5 over 45.3m (from 15.7m to 61.0m) including
0.213% V2O5 over 16.2m (from 22.8m to 39.0m) in hole C-09, and

0.192% V2O5 over 14.5m (from 1.8m to 16.3m) including
0.300% V2O5 over 3.0m (from 8.8m to 11.8m) in hole C-10, and

0.197% V2O5 over 43.0m (from 12.0m to 55.0m) including
0.326% V2O5 over 8.0m (from 32.0m to 40.0m) in hole C-11.

"We are pleased to have consistently good results from our vanadium program," says Stewart Wallis, President of Crosshair. "We are well on our way to significantly increasing our vanadium resource with the grades being encountered, as they are above our projected cut-off for the upcoming resource estimate."

The vanadium resource expansion program has been planned with the goal of adding significant pounds of vanadium to the existing vanadium resource without the need for further drilling. Given the fact that the previous drill programs on the CMB project focused exclusively on uranium, most holes were only sampled where uranium was encountered. For this reason, approximately 4,000 metres of existing core needs to be sampled and assayed for vanadium.

Crosshair is a dominant player in the exploration and development of uranium and gold in the US and Canada. Its flagship Project, Bootheel, is located in uranium mining friendly Wyoming and with its in-situ mining potential; Bootheel is designed for near term production. The CMB Uranium/Vanadium Project is located in Labrador, Canada and has four currently defined resources – C Zone, Area 1, Armstrong and Two Time Zone. The Crosshair team is comprised of knowledgeable and experienced professionals with both exploration and mining backgrounds.

Crosshair's exploration work on the CMB Project in supervised by Stewart Wallis, P.Geo., a member of the Professional Engineers and Geoscientists of BC, the President of Crosshair and a Qualified Person as defined by NI 43-101. Mr. Wallis has verified that the assay results presented above have been accurately summarized from the official assay certificates provided to Crosshair. A QA/QC program has been implemented consisting of standard, blank and duplicate samples.

Split drill core samples are sent to Activation Laboratories in Ancaster, ON for analyses. Vanadium analysis is performed using Inductively Coupled Plasma Mass Spectrometry (ICP-MS). Samples that exceed the upper limit for vanadium are re-assayed using fusion ICP.

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